"I have known David Henderson for seven years and during that time, he has had full control of my financial investment portfolio through retirement and the consequences of adjustment to widowhood. I have never had any cause to doubt his skilled advice and commitment. This has been delivered through a friendly and totally reliable relationship. I have regarded him as a trustworthy friend and in terms of the financial manoeuvres, his practical adjustments have (thus far in a volatile world!) all been safe and successful. He has been helpfully reassuring at times based on an extensive knowledge of theway the markets and global economy works I find this very educational. I have recommended his services to several friends all of whom have commented most favourably after his input totheir finances."
Tracker
A tracker mortgage usually tracks any movement in a nominated index for a set period: this could be the Bank of England Base Rate for example, and the index is selected by the lender.
So, you will benefit from any fall in interest rates over the term, but will also have to pay more each month if the index rate increases.
Advantages
If you have some flexibility in your budget, should interest rates increase over the term, then you can use a Tracker mortgage to ensure that if interest rates fall, then you will benefit from this and see a decrease in your monthly mortgage repayments.
Disadvantages
Interest charges on Tracker mortgage may be slightly higher than on variable rates. This is because the lender has to factor in any potential loss of profit if the agreed repayment at the start of the contract goes on to decrease during the future term of the mortgage agreement. If the Bank of England was to reduce its base rate, anyone on a Tracker mortgage using this as the Index will see their repayments come down by the relevant proportion.
If you apply to get out of the deal before the end of the agreed term, most Tracker mortgages apply a penalty charge, known as an early repayment charge (ERC).
Tracker mortgages may also be subject to a ‘booking/arrangement fee’ levied by the lender.
We will explain the implications of these potential costs in more detail, before you make any commitment, if we believe a Tracker mortgage is beneficial for you. We will also obtain an illustration of your payment plan.
Just as important as securing the physical bricks and mortar, you need to formulate a plan to finance your home while providing broad financial security for your family in the future.
Our wealth of specialist experience means we offer you impartial advice, based on a clear understanding of all your needs – today, and in the future: which means you can face the future with increased confidence.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments
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We have the benefit of many years spent advising doctors and dentists and guiding them through financial planning for protecting the family, savings and investing for the future, retirement, and the complex tax issues that can arise. -
There are many different ‘tools’ that help you save for retirement, and the taxation and investment elements of each can appear baffling. We explain, recommend and monitor pension products for you, putting you in control of the choices that will achieve your goals. -
Our mission is to use our knowledge and skills to provide unbiased financial advice, so that you can face the future with increased confidence regarding your financial position today, and the financial security of your family in future. -
Every investment carries some element of risk, which is why we reflect risk management in the financial planning we provide for clients. We work with you so that you are financially well organised, aware of your current and likely future financial position, and therefore remain in control of the choices you make. -
Buying a property can be stressful and time consuming at the best of times, and for some borrowers finding and selecting the most suitable mortgage for them can be a contributory factor. Working with us means that you’ll benefit from informed advice from the outset, backed by up-to-date financial intelligence, and years of practical experience.
